Plan supports economic risk-takers, pushes Michigan forward

Rep. VanWoerkom’s plan to establish the Research and Development Tax Credit program was approved by the Michigan Senate on Wednesday. As Republican vice chair of the House Tax Policy Committee, the representative has led the push to finalize the plan since the beginning of the legislative term.

“The goal is to keep good-paying jobs in Michigan and bring in new, long-standing opportunities in the fields of the future – that’s what this plan will do,” said VanWoerkom, of Norton Shores. “Not only will it strengthen our local economy today; it will also help create new jobs in our community for years to come. I’m pleased my Senate counterparts see the value in this plan.

Michigan Democrats originally pursued a plan that only focused on new jobs and allowed Gov. Whitmer’s administration to hand pick certain businesses and industries to benefit. After that plan failed to gain support, Rep. VanWoerkom helped negotiate a better plan that offers local businesses additional incentives to keep good-paying existing R&D jobs in Michigan and helps every business gain access to the program instead of a select few.

“Economic risk-takers push our state forward; helping us achieve local progress and opportunity. When we support them, we strengthen our communities and all of Michigan,” VanWoerkom said.

House Bills 4368 and 5099-5102 were approved with bipartisan support.

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